RHI Magnesita India Initiates Postal Ballot for Director Appointment
RHI Magnesita India Limited has issued a postal ballot notice for shareholder approval of Mr. Alvaro Martin Rivero's appointment as Non-Executive Director. The remote e-voting period runs from 7 March 2026 to 5 April 2026, with 4 March 2026 as the cut-off date for voting eligibility. Rivero, who was appointed as Additional Director on 14 January 2026, brings extensive financial expertise from his role as Group Head at RHI Magnesita N.V. and previous partnership at Ernst & Young.
*this image is generated using AI for illustrative purposes only.
RHI Magnesita India Limited has announced a postal ballot process to seek shareholder approval for a key board appointment. The company requires member consent for the appointment of Mr. Alvaro Martin Rivero as Non-Executive and Non-Independent Director through remote e-voting.
Board Appointment Details
The Board of Directors appointed Mr. Alvaro Martin Rivero (DIN: 11433702) as Non-Executive Additional Director on 14 January 2026. Under regulatory requirements, the company must obtain shareholder approval for his appointment as a regular director within three months of the initial appointment date.
| Parameter: | Details |
|---|---|
| Director Name: | Mr. Alvaro Martin Rivero |
| DIN: | 11433702 |
| Appointment Date: | 14 January 2026 |
| Position: | Non-Executive & Non-Independent Director |
| Retirement: | Liable to retire by rotation |
E-Voting Schedule and Process
The company has established a comprehensive timeline for the postal ballot process. National Securities Depository Limited (NSDL) will provide the remote e-voting facility to all eligible shareholders.
| Event: | Date & Time |
|---|---|
| Cut-off Date: | 4 March 2026 |
| E-voting Commencement: | 7 March 2026 (09:00 a.m. IST) |
| E-voting Conclusion: | 5 April 2026 (05:00 p.m. IST) |
| Resolution Deemed Passed: | 5 April 2026 |
| Results Declaration: | On or before 7 April 2026 |
Shareholders whose names appear in the Register of Members or Register of Beneficial Owners as on 4 March 2026 will be entitled to vote. The company has appointed Mr. Naresh Verma (Membership No. FCS: 5403) as Scrutinizer to conduct the postal ballot process.
Director Profile and Qualifications
Mr. Alvaro Martin Rivero brings significant financial and governance expertise to the board. He currently serves as Group Head of Reporting and Finance and Tax at RHI Magnesita N.V., the ultimate holding company, since 2022.
Key qualifications and experience include:
- Former Partner at Ernst & Young, advising major listed companies
- Chartered Accountant qualifications in Spain (ICJCE) and England & Wales (ICAEW)
- MBA in Energy from Warwick Business School
- Expertise in complex accounting, financial reporting, and regulatory compliance
The 43-year-old director holds directorships in RHI Magnesita Trading B.V., Sapref AG für feuerfestes Material, and RHI Ukraina LLC. He will not receive any remuneration from the company for his directorship.
Regulatory Compliance
The postal ballot notice complies with Section 108 and 110 of the Companies Act, 2013, and SEBI Listing Regulations. The company is sending the notice electronically to shareholders whose email addresses are registered with the company or depositories.
Shareholders holding shares in electronic mode can register their email addresses through their respective Depository Participants, while those holding physical shares can contact the company or Skyline Financial Services Private Limited, the Registrar and Share Transfer Agent.
The resolution requires approval by ordinary majority of shareholders voting on the proposal. Upon successful approval, Mr. Rivero will continue as Non-Executive Director liable to retire by rotation, strengthening the company's board composition with his financial leadership and governance experience.
Historical Stock Returns for RHI Magnesita
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -0.69% | -8.86% | -10.89% | -15.84% | +0.58% | +75.56% |
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